Help & Advice

Employment

Tim Carpenter, Car Finance Expert

Tim Carepenter

4 stars -
"Employment"

If you’re looking to borrow money, you will always need to demonstrate your capacity for repaying it. At CarFinance 247, we need to see that you are in steady employment and/or have a regular income, in order for your application for car finance to be considered. Remember, we don’t just offer car finance, but finance for vans, motorbikes, caravans and motorhomes too!

If your employment status falls in to one the following categories, then we do have lenders on our panel that may be able to help you to obtain car finance (subject to other factors, such as your credit score, proof of income etc):

self employed;

student;

disabled;

part time workers;

taxi drivers;

retired people;

NHS staff/ nurses;

carers;

about to start a new job (if you have a Contract of Employment);

housewife;

agency worker;

temporary or workers;

in the British Military (if you have proof of your UK address).

Of course, no one is able to guarantee the success of any application for car finance, but having evidence of a regular, basic income (for example from employment or a pension), is a good start to any finance application. For most lenders, this is in the form of pay slips or bank statements.

With a large panel of lenders on board, we have finance options suitable for those with credit histories ranging from poor to excellent. We are often able to find finance options for people with less than perfect credit histories, even if you have been refused elsewhere. We are also able to offer no deposit car finance.

Why not use our car finance calculator to get an idea of how much a car loan would cost?

If you’re looking to borrow money, you will always need to demonstrate your capacity for repaying it. At CarFinance 247, we need to see that you are in steady employment and/or have a regular income, in order for your application for car finance to be considered. Remember, we don’t just offer car finance, but finance for vans, motorbikes, caravans and motorhomes too!

If your employment status falls in to one the following categories, then we do have lenders on our panel that may be able to help you to obtain car finance (subject to other factors, such as your credit score, proof of income etc):

self employed;

student;

disabled;

part time workers;

taxi drivers;

retired people;

NHS staff/ nurses;

carers;

about to start a new job (if you have a Contract of Employment);

housewife;

agency worker;

temporary or workers;

in the British Military (if you have proof of your UK address).

Of course, no one is able to guarantee the success of any application for car finance, but having evidence of a regular, basic income (for example from employment or a pension), is a good start to any finance application. For most lenders, this is in the form of pay slips or bank statements.

With a large panel of lenders on board, we have finance options suitable for those with credit histories ranging from poor to excellent. We are often able to find finance options for people with less than perfect credit histories, even if you have been refused elsewhere. We are also able to offer no deposit car finance.

Why not use our car finance calculator to get an idea of how much a car loan would cost?

Representative example:

Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

Rates may differ as they are dependent on individual circumstances. Subject to status.

We compare products from 16 of the UK's top lenders to get you the best deal.

Representative example:

Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

Rates may differ as they are dependent on individual circumstances. Subject to status.

We compare products from 16 of the UK's top lenders to get you the best deal.

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CarFinance 247 Limited is a credit broker and also operates as a lender under the trading name of 247Money.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

* The UK’s number one online car finance provider by web traffic. Based on Experian Hitwise data – 809,654 visits to CarFinance 247 vs 384,132 for nearest competitor. January 2018.

Carfinance247 Limited is authorised and regulated by the Financial Conduct Authority, registration number 653019 and we are registered with the Office of the Information Commissioner (No. Z1897658). Applicants must be 18 or over, terms and conditions apply, guarantees and indemnities may be required.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your customer service specialist can provide more information on this